Rémy Cointreau: Consolidated Sales for the 12 Months

Rémy Cointreau’s (Paris:RCO) consolidated sales for the financial year
ended 31 March 2013 were €1,193.3 million, an increase of 16.3% (up 8.8%
organically). Group brands increased by 18.6% (up 10.3% organically).
This performance is even more remarkable in that it was achieved on the
back of double-digit growth the previous year.

Over the 12 months, the foreign exchange effect was a positive 6.8%,
whilst changes in the Group’s structure, related to acquisitions, were a
positive 0.7%. The organic growth of 12.4% in the fourth quarter
exceeded the full-year average, due to the favourable effect of a later
Chinese New Year.

The US and Asia maintained their double digit growth. Europe, despite a
mixed economic environment, also contributed to this performance.

Jean-Marie Laborde, Chief Executive Officer, commented:

“This performance confirms the Group’s strategic orientation initiated
over the last few years. Our results were driven by the move upmarket of
the entire brand portfolio, innovations supported by targeted investment
and the expertise of our worldwide distribution network.

“During the financial year we have, once again, consolidated our
positioning and reaffirmed our high value and long-term strategy.”

Divisional analysis:

(€ millions)

12 months

12 months

% Change

to 31.3.13

to 31.3.12

Published

Organic*

Rémy Martin

719.7

592.5

21.5

12.7

Liqueurs & Spirits

239.1

215.8

10.8

3.9

Sub-total - Group brands

958.9

808.3

18.6

10.3

Partner Brands

234.4

217.8

7.6

3.0

Total

1,193.3

1,026.1

16.3

8.8

*on a like-for-like basis

Rémy Martin achieved double-digit organic growth for the fourth
consecutive year, an increase of 12.7% (up 21.5% as published). The
Group’s ongoing policy of moving upmarket, the pricing policy, combined
with high quality innovations as well as a more modest increase in
volumes, in line with our long-term objectives, all contributed to this
good result.

Asia and the Americas were the main drivers of Rémy Martin’s growth. In
the Europe/Africa region, growth was driven by Russia and Western Europe
where sales also increased, particularly in the UK.

Cointreau achieved a strong full-year performance with 7% growth,
thanks, in particular, to expansion in the US supported by increased
marketing investment. The brand reported good results in Western Europe,
driven by Benelux and the UK.

Despite a continued challenging economic situation in Greece, Metaxa
grew in its markets with high potential (Eastern Europe). Sales of
Passoa and St Rémy also increased.

Partner Brands – The growth in brands distributed on behalf of
our partners was primarily driven by Scotch whiskies in the US. The
worldwide refocus on a high value strategy, initiated more than a year
ago by Piper-Heidsieck champagnes is bearing fruit, particularly in the
US, despite the difficult economic climate in Europe. The relaunch of
Charles Heidsieck champagnes met a positive welcome in the markets.

Rémy Cointreau will focus on achieving estimated growth in current
operating profit of around 10% on a like-for-like basis, and above 15%
as published.

In a worldwide economic environment which is still disrupted,
particularly in Europe, but nevertheless remains favourable for the
premium spirits industry, Rémy Cointreau remains true to its long-term
high value strategy. The Group will continue to rely on its very high
quality brands, the dynamism of its distribution network and its strict
cost control.